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Okay, we have know about the history of insurance since ancient era till medieval. The insurance was developed untill the modern era. It was developed in many country such as in europe area.
The Germany built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s.
The Germany built on a tradition of welfare programs in Prussia and Saxony that began as early as in the 1840s.
In the 1880s Chancellor Otto von Bismarck introduced old age pensions, accident insurance, medical care and unemployment insurance that formed the basis of the modern European welfare state.
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| Otto von Bismarck |
His paternalistic programs won the support of German industry because its goals were to win the support of the working classes for the Empire and reduce the outflow of immigrants to America, where wages were higher but welfare did not exist.
After 1905, led by the Liberal Party, the British introduced a system of social insurance as well. It was greatly expanded after 1944.
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